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  • Feng shui has become and intrinsic part of selling real estate to Chinese buyers. (Supplied)
Growing awareness of the traditional Chinese culture has had a significant impact on the property industry in Australia.
By
Source:
SBS Small Business Secrets
21 Jul 2016 - 3:18 PM  UPDATED 18 Mar 2018 - 1:28 PM

Twenty thousand new real estate agents have entered the Australian market since 2014.

Each represent some of the small businesses cashing in on a booming real estate sector, boosted largely by overseas investment.

Since Lulu Pallier launched the Sydney franchise of Sotheby's International with her husband Michael in 2013, her Chinese heritage has become an increasingly valuable asset.

"Ten, fifteen years ago we did occasionally have Chinese speaking background property purchasers and now every year that dramatically increases," Ms Pallier said.

Chinese buyers have spent fifteen billion dollars on Australian real estate this year alone, and there are plenty of opportunities for small businesses keen to cater to them, such as Feng Shui consultant Grandmaster Gary Khor.

"Skills and arts like Feng Shui is part and parcel of the way the Chinese live. It has started now to influence the way people buy property, and one of the main things they look at is, is the Feng Shui," he said.

For 250 dollars an hour, Master Khor will assess the energy of every space.

"If it is residential it is whether that place is healthy to live in, that takes in being peaceful."

From multi-million dollar family homes to massive commercial projects, the Grandmaster says he's busier than ever.

"To make it more pleasant for us there, we have to introduce various things like having plants inside the rooms, like the design of the colours and shape of things," Mr Khor said.

Commercial property is also in demand and hoteliers are increasingly using the services of furnishing and finishing stylists to catch the eye of Asian buyers.

Beijing-based Sunshine Insurance was one of the latest to invest in the local market last December, when it bought Sydney's Sheraton on the Park for $463 million dollars.

Chinese buyers bought up two-point-six billion dollars worth of Australian hotels last year.

Analysts such as CBRE Hotels director Robert Macintosh say that was because the Australian dollar dipped.

It's a safe, secure environment, politically stable, the economy is going reasonably well and it's an opportunity to diversify," he said.

An opportunity that will likely continue to help Australia's small business sector in the future.

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